Navigation Links
QLT announces preliminary results of tender offer
Date:1/27/2009

VANCOUVER, Jan. 27 /PRNewswire-FirstCall/ - QLT Inc. ("QLT") (NASDAQ: QLTI; TSX: QLT) announced the preliminary results of its modified "Dutch Auction" tender offer (the "Offer"), which expired at 5:00 p.m. (Eastern time) on January 26, 2009.

Based on the preliminary report of the depository for the Offer, QLT expects to purchase for cancellation 20,000,000 of its common shares (the "Shares") at a price of US$2.50 per Share, for a total cost of US$50 million. The purchased Shares represent approximately 26.8% of the Shares outstanding as of January 26, 2009. Shareholders who deposited Shares under the Offer will have approximately 81.8% of their Shares deposited purchased for cancellation, subject to certain limited exceptions. After the repurchase, approximately 54.6 million Shares will remain outstanding.

The number of Shares to be purchased and the price per Share under the Offer are preliminary. Final results will be determined subject to confirmation by the depository of the proper delivery of the Shares validly tendered and not withdrawn.

QLT and the depository expect that the exact number of Shares to be taken up and paid for under the Offer will be determined on or before January 29, 2009. Payment for Shares tendered and accepted for purchase will be made promptly thereafter. The Shares deposited but not purchased, including Shares invalidly deposited, will be returned as promptly as possible.

Goldman, Sachs & Co. and BMO Capital Markets served as dealer managers for the Offer. Georgeson Shareholder Communications Canada, Inc. served as information agent and Computershare Investor Services Inc. served as the depository. For questions and information about the Offer, please contact the information agent, toll free, at 1-866-733-9452.

About QLT

QLT Inc. is a global biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies. Our research and development efforts are focused on pharmaceutical products in the field of ophthalmology. In addition, we utilize three unique technology platforms, photodynamic therapy, Atrigel(R) and punctal plugs with drugs, to create products such as Visudyne(R) and Eligard(R) and future product opportunities. For more information, visit our website at www.qltinc.com.

    QLT Plug Delivery, Inc. is a wholly-owned subsidiary of QLT Inc.
    Atrigel is a registered trademark of QLT USA, Inc.
    Visudyne is a registered trademark of Novartis AG.
    Eligard is a registered trademark of Sanofi-aventis.

QLT Inc. is listed on The NASDAQ Stock Market under the trading symbol "QLTI" and on The Toronto Stock Exchange under the trading symbol "QLT."

Certain statements in this press release constitute "forward-looking statements" and "forward-looking information" of QLT, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. These statements are only predictions and there are a number of risks, uncertainties and other factors which could cause actual events to differ materially, including but not limited to variations in the depository's preliminary count and the fact that our intention to purchase our common shares may be impacted by market factors and our operating results, and by other factors described in detail in QLT's Annual Information Form and Annual Report on Form 10-K, quarterly reports on Form 10-Q and other filings with the SEC and Canadian securities regulatory authorities. Forward-looking statements are based on our current expectations and QLT assumes no obligation to update such information to reflect later events or developments, except as required by law.


'/>"/>
SOURCE QLT Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Tamaris Announces Foot and Leg Ulcers Pose Significant Health Threat
2. KRAUSE, KALFAYAN, BENINK & SLAVENS, LLP, Announces Filing a Class Action Lawsuit Against Scripps Health, et al.
3. Aflac Announces Additional Teleconference Webcast
4. PA Governor Rendell Announces $94 Million Investment in Water Infrastructure
5. Alma Lasers Announces FDA Clearance of the UniForm Handpiece
6. SpectraScience Announces Business Update
7. AMDL, Inc. Chairman & CEO Announces Expert Opinion on Chinas Economic Forecast
8. NEC Foundation of America Announces New Grants
9. Authentidate Announces Termination of Merger Agreement With Parascript, LLC
10. Neovasc Announces Agreement With LeMaitre Vascular for Exclusive Distribution Rights to its Biological Vascular Strips
11. MedClean Technologies Inc. Announces New Ticker Symbol
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/25/2017)... ... April 25, 2017 , ... ... and HR decision-makers are preparing for how his administration could impact the employee ... insight into what changes are most likely to make it through Congress. His ...
(Date:4/25/2017)... Las Vegas, NV (PRWEB) , ... April 25, ... ... teeth can now choose a modern procedure that achieves results in a fraction ... orthodontist in Las Vegas, NV, with Significance Dental Specialists, now offers this ...
(Date:4/25/2017)... ... April 25, 2017 , ... Buyers and sellers in the ... dispensaries and head shops –can’t help but be heartened by the industry’s current surge. ... odor aptly described as “skunk smell.” At last they can simply, safely and ...
(Date:4/25/2017)... (PRWEB) , ... April 25, 2017 , ... There is ... Regional Hospital, according to a special report in the May issue of Consumer Reports ... its highest quality ranking for results achieved during and after coronary bypass and aortic ...
(Date:4/24/2017)... ... 2017 , ... LG CNS Healthcare Solutions debuted the next ... Telehealth 2.0, the American Telemedicine Association’s national conference. , BYOD has been added ... pre-programmed tablet in a remarkably easy-to-use kit for patients. “BYOD is the next ...
Breaking Medicine News(10 mins):
(Date:4/20/2017)... Research and Markets has announced the addition of the ... Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2014 ... ... US$ 7,167.6 Mn in 2015, and is expected to reach ... 5.6% from 2016 to 2024. The global ...
(Date:4/19/2017)... April 19, 2017 /PRNewswire/ - CRH Medical Corporation (TSX: CRH) (NYSE MKT: CRHM) ... & Co. Healthcare Investor Conference 2017 at the Sheraton Hotel in ... , Chief Executive Officer of the Company is scheduled to present ... Richard Bear and the Chairman of the Board, Tony ... ...
(Date:4/19/2017)... NEW YORK , April 19, 2017 ... Surgical drainage devices are tubes used to remove excess ... include, blood, serum, pus, urine, bile or lymph. Surgical ... types of surgery such as orthopedics surgery, cardiovascular surgery, ... device is prophylactic post-surgery to prevent accumulation of fluid ...
Breaking Medicine Technology: